Google Finance, Govt, Policy and Business Issues Forum

Google Inc. (GOOG) bought 1,023 patents from International Business Machines Corp. (IBM) as the Internet search and advertising company bolsters its strategy of defending against smartphone lawsuits.

Transfers recorded by the U.S. Patent and Trademark Office’s website yesterday show Google acquired the patents Aug. 17. Jim Prosser, a spokesman for the Mountain View, California- based company, confirmed the transaction today without providing details or financial terms. Chris Andrews, a spokesman for Armonk, New York-based IBM, declined to comment.